Allergan Q3 tops estimates as profit doubles
Botox maker Allergan (NYSE: AGN) nearly doubled its third quarter 2015 profit driven by the increased demand for its branded pharmaceuticals and medical-aesthetics products.
The company reported revenue of $4.1 billion for the quarter ended September 30, compared with $2.2 billion a year ago. Third quarter earnings per share were up 65% at $3.48 versus $2.11 a year earlier.
Allergan said revenue from branded products segment grew 50% to $2.39 billion in the third quarter, accounting for 58.5% of total revenue. Net income stood at $5.23 billion.
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